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darren gersh reports. >> reporter: assuming he wins senate confirmation, jacob "jack" lew will take over a treasury that is rapidly running out of cash. the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to pick and choose which bills the feds will pay. >> even if it were clear that the treasury secretary could do that, pick and choose, the ability, the real ability to reprogram all of the software in treasury's computers which connect to all of the computer software in the various agencies is not something that can be done in ten minutes or ten days or ten weeks. so you have the right to do it, but you don't have the ability to do it. >> reporter: the treasury uses a separate computer system to make interest payments on the federal debt so it is possible investors would get what they are owed. but what happens with soc
darren gersh reports. >> reporter: assuming he wins senate confirmation, jacob "jack" lew will take over a treasury that is rapidly running out of cash. the federal government has already hit the debt ceiling. and the only way the government can pay its bills is by using accounting gimmicks to move money around. those tricks will only get the government through mid-february. at that point lew might have to take the unprecedented step of deciding he has the legal authority to...
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>> steve, you were right on the money with the jack lew prediction. you and i had this conversation, but i just wonder, you know, there's this antagonistic relationship between the white house and business. >> right. >> there were a handful of business guys in the mix that wanted the job. larry fink. would it be sort of better as a perception from the market or perception of business to put a business guy in there to help the relationship, help the togetherness of business in washington so we actually get some job creation going? what's your take on this choice? >> i don't disagree with the signal that could have been sent had somebody else been chosen. >> exactly. >> no doubt about that. it could have been an olive branch to the business community. i think that's for sure, and president obama did have several candidates who he could have chosen from in that regard. >> right. >> so i think that's very important, but i think right now president obama says, you know what? i've got a problem with congress. i've got a problem with the debt ceiling. let me
>> steve, you were right on the money with the jack lew prediction. you and i had this conversation, but i just wonder, you know, there's this antagonistic relationship between the white house and business. >> right. >> there were a handful of business guys in the mix that wanted the job. larry fink. would it be sort of better as a perception from the market or perception of business to put a business guy in there to help the relationship, help the togetherness of business in...
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jack lew is not that man. the original messages that we're now getting from a number of republican senators who will have to consider this nomination, many are saying that they will go through the vetting process. see what jack lew has to say from confirmation hearings as the information comes out. they want a plan to address spending. many are skeptical they're getting it from the treasury nominee or from the administration. back to you. tracy: rich edson, thanks for all that. ashley: jack lew then must face the senate before he takes the helm at treasury department. with the top republican on budget committee already speaking out against lew are we in for a bumpy confirmation process on capitol hill? joining us bob cusack, managing editor of "the hill." it could be interesting, bob. we mentioned senator jeff sessions, top ranking republican on the senate budget committee and he said, quote, in a statement that is now at, out, jack lew must never be treasury secretary. he has critics but do you think he will
jack lew is not that man. the original messages that we're now getting from a number of republican senators who will have to consider this nomination, many are saying that they will go through the vetting process. see what jack lew has to say from confirmation hearings as the information comes out. they want a plan to address spending. many are skeptical they're getting it from the treasury nominee or from the administration. back to you. tracy: rich edson, thanks for all that. ashley: jack lew...
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i have the greatest respect for jack lew. i know him as a man exceptional judgment, calm under pressure, with an extraordinary record of experience over decades spent at the center of american economic policy. he is committed to defending the safety net for the elderly and poor. he understands what it takes to create the conditions for stronger economic growth and broader economic opportunity. and he understands that to govern responsibly, is to govern with the recognition that we have limited fiscal resources. now like jack, i've spent my professional life in this world of public policy and public service, and as all of you know, our families carry a large share of the burdens we assume in public life. and i feel incredibly fortunate that my wife, carol, and my family, have been willing to allow me to do this. and i thank them for their support and their patience and i understand their occasional impatience. i want to express my admiration and my appreciation for the women and men of the treasury department. those who came t
i have the greatest respect for jack lew. i know him as a man exceptional judgment, calm under pressure, with an extraordinary record of experience over decades spent at the center of american economic policy. he is committed to defending the safety net for the elderly and poor. he understands what it takes to create the conditions for stronger economic growth and broader economic opportunity. and he understands that to govern responsibly, is to govern with the recognition that we have limited...
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lew, and he trust jack lew. if you look at all of these cabinet appointments that we've seen and some to come, it is about the president's comfort level in the second term. >> he was just re-elected, he's the president of the united states. he deserves to be comfortable. if you can hold on, we still haven't received that famous two-minute warning. we'll take a quick two-minute break and be right back. where is flo? anybody know where flo is? are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot. yo, buddy! i got this. gimme one, gimme one, gimme one! the power of the "name your price" tool. only from progressive. >>> we waiting for the president of the united states to walk into the east room of the white house. we'll show you a picture now. he's going to nominate jack lew as white house chief of st
lew, and he trust jack lew. if you look at all of these cabinet appointments that we've seen and some to come, it is about the president's comfort level in the second term. >> he was just re-elected, he's the president of the united states. he deserves to be comfortable. if you can hold on, we still haven't received that famous two-minute warning. we'll take a quick two-minute break and be right back. where is flo? anybody know where flo is? are you flo? yes. is this the thing you gave my...
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>> i worked with jack lew, what you read does not resonate. you have to remember back then, lew was arguing with the tea party. the tea party they bring negotiations to the table. -- the position, so this is not something new to him. i am quite confident that he will be confirmed again. this is a guy who back in the 1980s helped to negotiate a social security deal that was very bipartisan. 1997 a bipartisan balanced budget that led to a surplus, not a deficit of over $200 billion in 2000. he dusted it up with the republican party back then and frankly he needed to. >> i want to move on to something more light hearted conversation. the buzz about creating a trillion dollar coin. treasury spokesman is saying that the treasury department nor the federal reserve feels that it should be producing a platinum coin. ultimately how does it work? it sounds completely bizarre. >> it's a bizarre solution to a more bizarre problem and i think many people, myself included thought that the trillion dollar coin solution was absolutely ridiculous. but it would
>> i worked with jack lew, what you read does not resonate. you have to remember back then, lew was arguing with the tea party. the tea party they bring negotiations to the table. -- the position, so this is not something new to him. i am quite confident that he will be confirmed again. this is a guy who back in the 1980s helped to negotiate a social security deal that was very bipartisan. 1997 a bipartisan balanced budget that led to a surplus, not a deficit of over $200 billion in 2000....
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and jack lew is in the middle of it. because democratic economic policies have not been well received by republicans in congress, and because jack lew once irked mitch mcconnell, he is, we're supposed to believe, not going to get the top tier cabinet position. we scoff in your general direction. if those do not sound like reasons substantive enough to block a presidential cabinet nomination, that is because those are not reasons substantive enough to block a presidential cabinet nomination. at least historically speaking, those are not the kind of things that keep a person out of a top tier job like that. as "the new york times" calculated today, in the history of the u.s. senate, the senate has confirmed over 500 cabinet nominations. over 500. it has denied nine out of more than 500 in gnat senate history. the last time a cabinet nomination was denied was almost 25 years ago when the senate voted down poppy bush's nominee for defense john tower after what would later be described in his obituary of public allegations of
and jack lew is in the middle of it. because democratic economic policies have not been well received by republicans in congress, and because jack lew once irked mitch mcconnell, he is, we're supposed to believe, not going to get the top tier cabinet position. we scoff in your general direction. if those do not sound like reasons substantive enough to block a presidential cabinet nomination, that is because those are not reasons substantive enough to block a presidential cabinet nomination. at...
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if you look at jack lew's career, it's easy to say he's a creature of government. worked in the obama administration, worked for tip o'neill back in the day. but when you look at his experience before he came to the government with the obama white house, he was at citi and got $1 million salary and $1 million bonus. this irks not only conservatives who think obama's being hypocritical to nominate someone this kind of banking background after wagging his finger at the wealthy all year. but almost frustrates and infuriates the left because they would like to see someone more progressive in the treasury role. >> more progressive. but what about this? he was the chief operating officer of a proprietary trading operation of about $54 billion. now, that has been outlawed under dodd/frank. so once again, i see hypocrisy from team obama. >> you've already seen some senators on capitol hill such as chuck grassley of iowa raise questions about what jack lew did at citi. and there's been a huffington post investigation about how lew's unit within the company was tied to hedge
if you look at jack lew's career, it's easy to say he's a creature of government. worked in the obama administration, worked for tip o'neill back in the day. but when you look at his experience before he came to the government with the obama white house, he was at citi and got $1 million salary and $1 million bonus. this irks not only conservatives who think obama's being hypocritical to nominate someone this kind of banking background after wagging his finger at the wealthy all year. but...
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in his opinion there's no better person sitting in treasury to tackle that than jack lew. >> i do want to point out one thing as we talk about diversity, and we had jen saki on the show yesterday. she said while the president has a very diverse -- >> a woman who works for president obama. >> and she made the point that we have a pipeline problem. if you actually look at sort of where women are at -- we did a little researching as we are want to do on this television program -- 50% -- 50.8% of the country is female, but they're only 18.9% of congress is female. that's up. that's still 19% basically. only 4.2% of fortune 1,000 ceos, rona, are women. when we talk about why are the women who are there -- why is the word deputy in front of their names? it's because in top level positions, i mean, you still have a problem in this country and around the world with women in leadership positions. >> it's interesting. the ceo numbers are particularly striking, and i think that that represents the fact that there just has not been enough culture shift in corporate america. i mean, women's roles a
in his opinion there's no better person sitting in treasury to tackle that than jack lew. >> i do want to point out one thing as we talk about diversity, and we had jen saki on the show yesterday. she said while the president has a very diverse -- >> a woman who works for president obama. >> and she made the point that we have a pipeline problem. if you actually look at sort of where women are at -- we did a little researching as we are want to do on this television program --...
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who is jack lew? an inside look at the man poised to take over as treasury secretary. ♪ . ♪ [ male announcer ] this is karen anjeremiah. they don't know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. lori: here's your fox business brief. snapping a two-day losing streak stocks continue their upward trend as fourth quarter earnings season gets off to a strong start with alcoa last night. right now the dow is up 61 points. >>> billionaire leon black apparently sweet on hostess. "new york post" says the head of private equity firm apollo global management teaming up
who is jack lew? an inside look at the man poised to take over as treasury secretary. ♪ . ♪ [ male announcer ] this is karen anjeremiah. they don't know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get...
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jack lew officially nominated as treasury chief. lew is known for his role in the being acrimonious talks in 2011. what could it mean this time. >> tiffany disappoints again with weaker holiday sales. there was weakness in the americas, strength in asia. so how much of a read through to the rest of retail is this earnings report? >>> nokia shares soaring this morning after a bullish outlook for the first quarter. >>> and herbal life's big day to defend itself against bill ackman's damning allegations. we'll have the latest and the ceo join us later in the show. >>> well, today president obama is set to nominate white house chief of staff jack lew as his next treasury secretary. succeeding tim geithner. lew has been budget director in both the obama and clinton administrations. he will pray a major role of course in negotiations over the debt ceiling and potential spending cuts. the president will make his announcement at 1:30 eastern. it's an event in the east room at the white house. i have to say off the bat just because he's a fo
jack lew officially nominated as treasury chief. lew is known for his role in the being acrimonious talks in 2011. what could it mean this time. >> tiffany disappoints again with weaker holiday sales. there was weakness in the americas, strength in asia. so how much of a read through to the rest of retail is this earnings report? >>> nokia shares soaring this morning after a bullish outlook for the first quarter. >>> and herbal life's big day to defend itself against...
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he is talking about jack lew to be secretary of the treasury are. there is not even one controversial episode in jack lew's entire life history. but senator jeff sessions who is not even a member of the committee that will definitely vote to confirm jack lew is trying to make his confirmation controversial perhaps because he still hasn't gotten over the fact that the senate judiciary committee voted against his nomination to be a federal judge in 1986. joy read the jack lew thing it doesn't get less controversial than this. poor little jeff sessions isn't going to get to ask him questions in the hearing because he isn't on the hear. >> this is like confirmation theater. darn it they were nominated by barack obama. they have the bam of stain on them. lew's eissue is his weird signature. >> right. eugene robinson. you have seen this stuff over the years. take us through what is going to happen with haegle. you have the secretary of defense. something that bill clinton did. and republicans are going no, we don't like this guy. i think what is going to
he is talking about jack lew to be secretary of the treasury are. there is not even one controversial episode in jack lew's entire life history. but senator jeff sessions who is not even a member of the committee that will definitely vote to confirm jack lew is trying to make his confirmation controversial perhaps because he still hasn't gotten over the fact that the senate judiciary committee voted against his nomination to be a federal judge in 1986. joy read the jack lew thing it doesn't get...
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those were the years that jack lew was in charge of the budget. those were also the years in which debt clocks had to be unplugged because they had never been programmed to run backwards. it was not jack lew alone who led us to that fiscal breakthrough as a country. but he was budget director, and with success comes bragging rights. and even know the obama administration kind of declared war on peacocks in this announcement yesterday, it is worth wondering if they might not actually be better off if they did strut on these issues a little bit more than they like to, because you would never know it from the way the deficit peacocks are crowing against this administration, but the deficit is now more than $200 billion smaller than it was when president obama first took office. we are currently witnessing the fastest deficit reduction in this country since the end of world war ii. the alleged big spending liberal barack obama has already signed into law approximately $2.4 trillion deficit reduction measures over the next decade. and that could be hig
those were the years that jack lew was in charge of the budget. those were also the years in which debt clocks had to be unplugged because they had never been programmed to run backwards. it was not jack lew alone who led us to that fiscal breakthrough as a country. but he was budget director, and with success comes bragging rights. and even know the obama administration kind of declared war on peacocks in this announcement yesterday, it is worth wondering if they might not actually be better...
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so who is jack lew and what would he do at the treasury department? that is next. >>> plus, the breaking news of aig's decision not to sue the government over its bailout. ali velshi has a lot to say. he's back and he's next. pack your bags, we'll leave tonight. uhh, it's next month, actually... eddie continues singing: to tickets to... paradiiiiiise! no four. remember? whoooa whooaa whooo! you know ronny, folks who save hundreds of dollars by switching to geico sure are happy. and how happy are they jimmy? happier than eddie money running a travel agency. get happy. get geico. fifteen minutes could save you fifteen percent or more. >>> things are looking up for the u.s. economy. let's hope our politicians don't bring it down. from the cnn money newsroom, in new york, i'm ali velshi. this is your money. walmart reverses itself on gun violence meeting. do you know who jack lew is? you will soon. more nightmares on the dreamliner. and america is on track to prosper if we just let it. but, first, that walmart story. the change of heart. vice president jo
so who is jack lew and what would he do at the treasury department? that is next. >>> plus, the breaking news of aig's decision not to sue the government over its bailout. ali velshi has a lot to say. he's back and he's next. pack your bags, we'll leave tonight. uhh, it's next month, actually... eddie continues singing: to tickets to... paradiiiiiise! no four. remember? whoooa whooaa whooo! you know ronny, folks who save hundreds of dollars by switching to geico sure are happy. and how...
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i don't think jack lew brings that to the table. whether or not the other attributes he has make up for that we'll have to wait and see. >> i was going to ask you if you didn't end your report with that, i was going to ask you to say what you just said, what you said to me off camera -- and i'll tell you, when you said it, i'll tell you what struck me. sometimes i think you're implying that if the administration needs to sell something to maybe the private sector, it helps to say, you know, geithner's for it. or it helps to say paulson was for it. it helps to say robert reuben is for this. and in this case they won't necessarily be able to make that. but they don't -- see where i disagree with you, i don't think they care that they don't sell it. they don't need to sell it. >> i don't care if they care. they should care. it does matter. we are entering really interesting times when it comes to a need to rethink our corporate tax system, rethink our individual tax system. rethink entitlements. all of these things. it would have been,
i don't think jack lew brings that to the table. whether or not the other attributes he has make up for that we'll have to wait and see. >> i was going to ask you if you didn't end your report with that, i was going to ask you to say what you just said, what you said to me off camera -- and i'll tell you, when you said it, i'll tell you what struck me. sometimes i think you're implying that if the administration needs to sell something to maybe the private sector, it helps to say, you...
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jack lew is going to the treasury. for those of you who can make out his signature here, that's jack lew's signature. it looks sort of like a drunk caterpillar there. that will be on your flat money. it looks just like this. jack lew's signature. like a shock test if you look at it the right way. that's one nomination. other nominations that we've had here recently. we wanted to talk to juana summers about. let's start with john brennan. john brennan to the c.i.a. how are republicans going to take this? because we've already seen some opposition to him. >> as expected, a lot aren't taking it very well. they say he still has questions to answer about harsh interrogation tactics from the bush era. he hasn't answered that. lindsey graham the other night speaking on fox news that suggested he wants to put a hold on brennan's nomination. use that as leverage so he can get the answers that he and his republican colleagues, kelly ayotte, john mccain have been pushing for from clinton from the obama administration and the atta
jack lew is going to the treasury. for those of you who can make out his signature here, that's jack lew's signature. it looks sort of like a drunk caterpillar there. that will be on your flat money. it looks just like this. jack lew's signature. like a shock test if you look at it the right way. that's one nomination. other nominations that we've had here recently. we wanted to talk to juana summers about. let's start with john brennan. john brennan to the c.i.a. how are republicans going to...
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president nominated jack lew as the treasury secretary. it has been met with vigorous opposition by some on capitol hill. we'll have report and analysis from brit hume. 14 died in boston and 18 in state of massachusetts as the nationwide flu outbreak continues. we have a live report. "special report" starts at 6:00 eastern. now back to new york and my colleagues with "the five." ♪ ♪ >> eric: welcome back. i've been asking the question is american culture in declin decline. first up, scott thompson, english teacher is accused of pulling the flag off the wall and stomping on it in front of students feoffment speech or is american culture in decline. bob, taking the flag off the wall, stomping on it in front of kids? >> bob: it's terrible. i think there are laws against defacing a flag. not sure that he is not in that territory. to do it in front of kids, i'm not sure what the point was. he said it's cloth. it's more than cloth. represents a lot of thing. >> kimberly: fire him. this is outrageous. i would be so angry i would literally pro
president nominated jack lew as the treasury secretary. it has been met with vigorous opposition by some on capitol hill. we'll have report and analysis from brit hume. 14 died in boston and 18 in state of massachusetts as the nationwide flu outbreak continues. we have a live report. "special report" starts at 6:00 eastern. now back to new york and my colleagues with "the five." ♪ ♪ >> eric: welcome back. i've been asking the question is american culture in declin...
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i believe in the end jack lew will get confirmed. but i'll tell you this, the reason the white house put off the announcement of jack lew until tomorrow is because of the fiscal cliff. they didn't want it to get involved in the negotiations for the fiscal cliff. they felt that they already had a fight on their hands. they didn't want to add any fuel to the fire on that, which is why they've held off of the nomination until this week. they do expect him to get confirmed and so do i. >> john kerry, secretary of state. we've got a lot of white males, shall we say, chuck hagel, we have pictures up there. jack lew, eric holder is over at the justice department. he's not a white male. he's an african-american. but no women. >> men. men. >> i want to put up another picture of the seen yr staff, if you will. there you you he sue the staff. there's been mur muring that there's not enough women part of this white house, the inner circle. what are folks saying about that? >> the visual you just showed with the four cabinet members being men, th
i believe in the end jack lew will get confirmed. but i'll tell you this, the reason the white house put off the announcement of jack lew until tomorrow is because of the fiscal cliff. they didn't want it to get involved in the negotiations for the fiscal cliff. they felt that they already had a fight on their hands. they didn't want to add any fuel to the fire on that, which is why they've held off of the nomination until this week. they do expect him to get confirmed and so do i. >>...
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it is jack lew's signature which would appear on the bills in your pocket just like that unless he takes a penmanship lesson from tim geithner, whose signature looked like this until he became treasury secretary and made it legible. secretary of state hillary clinton told reporters today that she is thrilled to be back at work, but she said it is bittersweet because she will soon be stepping down. the secretary said she wouldn't call it retirement, just stepping off the very fast track for a little while. we'll tell you why some of baseball's biggest stars didn't make the hall of fame today. an interview on the lance armstrong investigation is making news. did the cyclist try to buy his way out of a doping investigation? and what could be the worst wildfire in the world right now. when the "cbs evening news" continues. of using toothpaste to clean their denture. but dentures are very different to real teeth. they're about 10 times softer and may have surface pores where bacteria can grow and multiply. polident is specifically designed to clean dentures daily. its unique micro-clean formu
it is jack lew's signature which would appear on the bills in your pocket just like that unless he takes a penmanship lesson from tim geithner, whose signature looked like this until he became treasury secretary and made it legible. secretary of state hillary clinton told reporters today that she is thrilled to be back at work, but she said it is bittersweet because she will soon be stepping down. the secretary said she wouldn't call it retirement, just stepping off the very fast track for a...
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yesterday i told you about a silly concern that's popped up about jack lew being nominated for secretary of the treasury. his signature if confirmed. that, that's the signature that would end up at the bottom of our paper money. look at that thing. that can't be. at today's nomination ceremony president obama didn't let that topic of his crazy signature slide. >> i had never noticed jack's signature, and when this was highlighted yesterday in the press, i considered rescinding my offer to appoint him. jack assures me that he is going to work to make at least one letter legible in order not to debase our currency should he be confirmed as secretary of the treasury. >> well, there is some hope. tim geithner had a messy signature in his past, but on the bill it's completely legible. looks like alexander hamilton. >>> next, aig has thought better about suing the federal government over the terms of the 2008 bank bailout. yes, the same taxpayer funded bailout that brought them $200 billion and saved them from bankruptcy. anyway, before the news of the potential lawsuit, aig launched an ad cam
yesterday i told you about a silly concern that's popped up about jack lew being nominated for secretary of the treasury. his signature if confirmed. that, that's the signature that would end up at the bottom of our paper money. look at that thing. that can't be. at today's nomination ceremony president obama didn't let that topic of his crazy signature slide. >> i had never noticed jack's signature, and when this was highlighted yesterday in the press, i considered rescinding my offer to...
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chief of staff jac jack lew was nominated as the secretary of treasury. a let of question about his signature. this is a grown man. this is his signature, doesn't resemble anything. president obama had a great joke about it today. bob and i were talking today, i realize bob was eating his lunch where the signature came from. checkbe this out. this is what bob eats for lunch. >> kimberly: that is why we have healthy snacks. okay. now we have a cute video here. if bill maher pays up. >> we have a new rule that suppose perhaps trump had been the spawn of his mother having sex with an orangutan. unless he comes up with proof, i am willing to offer $5 million to donald trump -- if he will come, that he can donate to a charity of his choice. >> kimberly: pay up. guess what, what did trump do? he had his lawyer right away. send et over. provide the proof he is in fa t
chief of staff jac jack lew was nominated as the secretary of treasury. a let of question about his signature. this is a grown man. this is his signature, doesn't resemble anything. president obama had a great joke about it today. bob and i were talking today, i realize bob was eating his lunch where the signature came from. checkbe this out. this is what bob eats for lunch. >> kimberly: that is why we have healthy snacks. okay. now we have a cute video here. if bill maher pays up....
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this is jack lew's actual signature. and that will go on every bill, of course, if he is confirmed as treasury secretary. don't really know what that literally actually says. >> it looks like a slinky, jon. i know, jack, he might clean it up a little bit. you talked about the white house chief of staff pick. likely not today, but mcdonough and klain, both qualified candidates. >> absolutely. and both close to the president. especially denis mcdonough. he was in the situation room with the president the night of the bin laden raid. >> and the debate prep for the president this year. >>> let's go to josh for the rest of the morning headlines. >> we're going to look at sweeping mortgage rules to protect homeowners and preventing another meltdown. new federal regulations being announced today, will ban interest-risk-only loans. and will help make sure that homeowners can replay the loans, debt payments have to be less than 43% of the borrower's annual income. >>> and a judge is expected to rule tomorrow whether there is enou
this is jack lew's actual signature. and that will go on every bill, of course, if he is confirmed as treasury secretary. don't really know what that literally actually says. >> it looks like a slinky, jon. i know, jack, he might clean it up a little bit. you talked about the white house chief of staff pick. likely not today, but mcdonough and klain, both qualified candidates. >> absolutely. and both close to the president. especially denis mcdonough. he was in the situation room...
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we expect president obama will nominate his chief of staff jack lew to run the u.s. treasury this morning. not a terribly controversial choice. there is some concern though over lew's signature though. take a look. here it is. remember the treasury secretary has to sign the dollar bill, right? is that something you would want on your dollar bill? >> a lot of loops. >> is that even a signature? there's a push this morning saying, come on, jack, maybe make it look better if you're going to end up signing the dollar if he gets congressional approval. >> interesting. >> he didn't think penmanship would play so much into his career. >> otherwise incredibly well qualified. >> work on that handwriting there. >> creative side. he looks like an artist for disney or something there. interesting. >> 5:15. some people in the bay area could see snow today. >> who knew? meteorologist christina loren is live for us in san francisco right on top of twin peaks. you look adorable of course. how are you feeling? are you cold? >> i'm pretty cold. i've got multiple layers on this morning
we expect president obama will nominate his chief of staff jack lew to run the u.s. treasury this morning. not a terribly controversial choice. there is some concern though over lew's signature though. take a look. here it is. remember the treasury secretary has to sign the dollar bill, right? is that something you would want on your dollar bill? >> a lot of loops. >> is that even a signature? there's a push this morning saying, come on, jack, maybe make it look better if you're...
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. >> reporter: but veterans of washington's budget battles say the rhetoric jack lew will face will be much nastier than the ultimate outcome. >> the debt ceiling is going to be an ugly fight, perhaps as ugly or even uglier than what we went through at the end of last year, but the real fight is not over the debt ceiling, the real fight is over deficit reduction and the debt ceiling is not a lever that will ultimately be pulled. being treasury secretary over the next couple of years is not going to be an easy job, tom. >> tom: what do we know about lew's background, darren, that could inform us how he may treat the negotiations over the debt ceiling? >> he has been described to me as a pragmatic progressive. he has been around for 25 years in washington, and he has been involved in almost all of the major budget battles. so he is widely respected. he really knows his stuff, and he is seen as a calm but fierce negotiator. >> tom: did he play any role back in august of 2011, the last time we had this debt ceiling de back debac. >> absolutely. there were some republicans who felt that lew
. >> reporter: but veterans of washington's budget battles say the rhetoric jack lew will face will be much nastier than the ultimate outcome. >> the debt ceiling is going to be an ugly fight, perhaps as ugly or even uglier than what we went through at the end of last year, but the real fight is not over the debt ceiling, the real fight is over deficit reduction and the debt ceiling is not a lever that will ultimately be pulled. being treasury secretary over the next couple of years...
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soon, the president will have to replace jack lew as chief of staff. the top candidates are, you guessed it, men. now, if jack lew is confirmed as treasury secretary, get ready to see the loopiest signature you have ever seen on a dollar bill. take a look. that is his actual signature. and that will go on every bill, i'm not sure what that thing actually says. >> i know, jack, he might clean it up a little bit. you talked about the white house chief of staff pick. likely not today, but mcdonough and klain, both well-qualified candidates. >> that's right. and both close to the president. especially denis mcdonough. he was in the situation room with the president the night of the bin laden raid. >> and he did the debate prep for the president this year. >>> let's go to josh for the rest of the morning headlines. >> we're going to begin with sweeping mortgage rules to protect homeowners and thus preventing another housing meltdown. new federal regulations being announced today, will ban interest-risk-only loans. and to help make sure that homeowners can r
soon, the president will have to replace jack lew as chief of staff. the top candidates are, you guessed it, men. now, if jack lew is confirmed as treasury secretary, get ready to see the loopiest signature you have ever seen on a dollar bill. take a look. that is his actual signature. and that will go on every bill, i'm not sure what that thing actually says. >> i know, jack, he might clean it up a little bit. you talked about the white house chief of staff pick. likely not today, but...
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that's now i knew about jack lew at the top of the list. same with these guys. they are lobbyists, talking directly to the white house. this is the short list that's being, you know, compiled right nor, and it looks like it's summers for the fed chairman or this guy, ferguson, and, by the way, it's early. names could change. this is what i have now, but my name list, my lists have been good. melissa: excellent. what else is excellent is the news on her ball life. >> there's a meeting, and herbal life, and calls is a pyramid scheme saying it's a company that should go to zero. upon city, whatever it is, it's bad. thinks it should be zero. the company is fighting back. they hired david boyce, a high profile attorney. they will have a meeting, and where's the investment? they are keeping it secret because of the press. the meetings' at the four seasons hotel at 50 and 57, i drink there regularly. this will be in the morning. by the way, great bar. melissa: that's the place to see to be seen. >> i thought you said cnbc. >> no, see and be seen, the place to go. >> no
that's now i knew about jack lew at the top of the list. same with these guys. they are lobbyists, talking directly to the white house. this is the short list that's being, you know, compiled right nor, and it looks like it's summers for the fed chairman or this guy, ferguson, and, by the way, it's early. names could change. this is what i have now, but my name list, my lists have been good. melissa: excellent. what else is excellent is the news on her ball life. >> there's a meeting, and...
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. >>> everyone is talking about jack lew's loopy signature. >> i never noticed jack's signature and when this was highlighted yesterday in the press, i considered rescinding my offer to appoint him. jack assures me that he is going to work to make at least one letter ledgible in order not to debase our currency should he be confirmed as secretary of the treasury. >> and if you read only one thing this morning, if you never thought you would communicate with a friar, the largest group wants to prove you wrong. you've got to see how they are accepting prayer requests these days. it's up on our facebook page at faceboo faceboo facebook/jansingco. ♪ ♪ ♪ hi dad. many years from now, when the subaru is theirs... hey. you missed a spot. ...i'll look back on this day and laugh. love. it's what makes a subaru, a subaru. i'm up next, but now i'm singing the heartburn blues. hold on, prilosec isn't for fast relief. cue up alka-seltzer. it stops heartburn fast. ♪ oh what a relief it is! this reduced sodium soup says it may help lower cholesterol, how does it work? you just have to eat it as
. >>> everyone is talking about jack lew's loopy signature. >> i never noticed jack's signature and when this was highlighted yesterday in the press, i considered rescinding my offer to appoint him. jack assures me that he is going to work to make at least one letter ledgible in order not to debase our currency should he be confirmed as secretary of the treasury. >> and if you read only one thing this morning, if you never thought you would communicate with a friar, the...
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are you saying that -- or would you say that rob nabors, gene sperling, jack lew, whoever replaces jack lew -- none of these people will now go to the hill to talk debt ceiling? are you saying that biden will not meet with mcconnell to talk debt ceiling? are you saying that the president will not invite leaders from both chambers of congress to the white house to talk debt ceiling? >> yes. we will not negotiate over raising the debt ceiling. as the president said, he has demonstrated repeatedly that he is willing to compromise when it comes to moving forward with deficit reduction. we obviously because of the sequester and the cr and other issues have economic, budgetary, and fiscal challenges that we need to confront, and that requires discussion and negotiation with congress. but he will not negotiate over the fundamental responsibility that only congress has to raise the debt ceiling. and if that is a responsibility that is just too onerous for them to bear, they should pass it off to the president as they did previously. he will not negotiate over raising the debt ceiling. this is n
are you saying that -- or would you say that rob nabors, gene sperling, jack lew, whoever replaces jack lew -- none of these people will now go to the hill to talk debt ceiling? are you saying that biden will not meet with mcconnell to talk debt ceiling? are you saying that the president will not invite leaders from both chambers of congress to the white house to talk debt ceiling? >> yes. we will not negotiate over raising the debt ceiling. as the president said, he has demonstrated...
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president obama set to nominate jack lew for treasury secretary today, so is this signature coming to a dollar bill near you today? january 10th, 2013. >>> good morning, welcome to "today" on this thursday morning. i'm savannah guthrie. >> i'm in more matt this morning. this case is pretty serious. nine states, health officials reporting a real problem in massachusetts. >> that's right. at least 18 flu related deaths so far. 700 confirmed cases in boston alone. hospitals are overrun with people complaining with flu-like symptoms coast-to-coast. we'll get the latest in a report straight ahead. and carl, after confess iing to all of us, only matt received his flu shot. we're going to do something. we're going to get a flu shot. >> i'm already thinking which arm to roll up. >> roll up that sleeve. i wore short sleeves on purpose. >>> joe biden comes face to face with members of the nra today. at the white house with details. >>> surprising punishments of some distracted drivers involved in deadly crashes are now getting, why are some of these sentences just so light. >> savannah, as you
president obama set to nominate jack lew for treasury secretary today, so is this signature coming to a dollar bill near you today? january 10th, 2013. >>> good morning, welcome to "today" on this thursday morning. i'm savannah guthrie. >> i'm in more matt this morning. this case is pretty serious. nine states, health officials reporting a real problem in massachusetts. >> that's right. at least 18 flu related deaths so far. 700 confirmed cases in boston alone....
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and today president obama is expected to nominate white house chief of staff jack lew as his pick to replace timothy geithner as treasury secretary. >> wall street doesn't love jack lew but will accept him. >> there is one bit of controversy. it is his signature. >> good morning to you. you know, if you look at any american currency you'll see it's signed by two people. the treasurer and so if he becomes treasury secretary. that's his signature. it will go on the money. is this a signature we want on the money? a call for lew to step it up and make it look less disney. wall street looking at jobless claims up to 371,000. anything below 400,000 is manageable. dow industrials up 38 points. nasdaq up 14. amazon about to announce a new feature. if you buy a music cd from amazon or purchased one in the past, the company will send you free music files of the cd as well so you can play it on your iphone on ipad or what not. you can easily and legally do this already. you take the cd put it in your computer and itunes will do it for you. it's a faster way for those people who still buy cds.
and today president obama is expected to nominate white house chief of staff jack lew as his pick to replace timothy geithner as treasury secretary. >> wall street doesn't love jack lew but will accept him. >> there is one bit of controversy. it is his signature. >> good morning to you. you know, if you look at any american currency you'll see it's signed by two people. the treasurer and so if he becomes treasury secretary. that's his signature. it will go on the money. is...